Malaysian firms to invest in Germany

KUALA LUMPUR, April 11: Malaysian firms have been invited to invest in Eastern Germany’s clean technology sector which is expected to increase by 125 per cent to €674 billion (€1=RM3.91) by 2025.

Germany Trade and Invest managing director, Peter Alltschekow, said clean technologies were essential to Germany’s plans to increase power produced from renewable sources to 80 per cent by 2050.

“The global clean technology market will reach €4.4 trillion during the same period,” Alltschekow told a media briefing after the German Cleantech Symposium here today.

Alltschekow said the symposium aimed to alert Malaysian businesses to the investment and partnership opportunities in Eastern Germany’s thriving renewable energy sector.

“Malaysia has been one of Germany’s main trading partners among the Asean countries for some time and bilateral trade is expected to grow up to 12 per cent annually.

“We welcome Malaysian companies to expand their activities to Germany to ensure the economic growth between Malaysia and Germany,” he said.

Eastern Germany is a global cleantech player particularly in the fields of solar and wind energy.

Germany Trade and Invest is the foreign trade and inward investment agency of the Federal Republic of Germany. The agency supports international companies looking to expand their activities to Germany. — BERNAMA